David Hanak The Apple Card has been officially operational since August this year, and two months into its existence, the director of the banking institution Goldman Sachs, which participates in the operation of Apple's credit card, has now reviewed its existence. According to him, this is the most successful start in the field of credit cards in their history.
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The management of Goldman Sachs held a conference call with shareholders yesterday, during which they also discussed the news in the form of a credit card from Apple, which Goldman Sachs co-operates as bank license holders and card issuers as such (together with Mastercard and Apple). Company CEO David Solomon was quoted as saying that Apple Card is experiencing "the most successful launch in credit card history."
Since the start of the distribution of cards among customers, which began in October, the bank has registered a huge interest from users. The company is understandably pleased by the interest in the new product because it means that the investment will begin to return sooner rather than later. Already in the past, representatives of Goldman Sachs made it clear that the entire Apple Card project is definitely not a short-term investment. In terms of the time needed to start generating income, there is talk of a horizon of four to five years, after which it will be a purely profitable business. The high interest in the new service naturally shortens this time.
There is currently no data available on the basis of which it would be possible to verify the success or failure of the Apple Card. Whereas the Apple plans to expand it beyond its home market, it can be expected that they are satisfied with the development of the project so far. However, expanding to other countries around the world will definitely not be easy, given the need to adapt to different legislation and regulations specific to each market.
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Petr Škuta Source: Macrumors
